Tata Bluescope targets Rs2,200 crore revenue by 2012-13

Mumbai: Tata Bluescope Steel, a 50:50 joint venture between Tata Steel and Australia''s Bluescope, said it expects its gross revenues to cross Rs2,200 crore with as many as four facilities operational by fiscal 2012-13. "We anticipate our revenues to cross Rs1,500 crore by 2009-10 and Rs2,200 crore by 2012-13," Chetan Tolia, managing director, Tata Bluescope, said. He was talking to reports after the commissioning of the company''s second facility in Bhiwadi. Tata Bluescope anticipates revenues of Rs150 crore in the current fiscal with three facilities operational in Chennai, Pune and Bhiwadi. The company plans to start operations at its third facility in Chennai by January next year.

Besides the three building component manufacturing facilities in Pune, Bhiwadi and Chennai, it would invest Rs 900 crore in a colour coating facility in Jamshedpur. The facility would be operational by late 2008 or early 2009, Tolia said, adding that it would have a total capacity to process around 2,50,000 tonnes of steel, of which 1,50,000 tonnes would be colour coated.

"We want to tap the growing Indian construction market especially with the commonwealth games around the corner," Bluescope Steel president Asian business markets and chairperson of Tata Bluescope, Kathryn Fagg, said. Tolia said the company would achieve a steel processing capacity of 3,50,000 tonnes by 2013 and has targeted processing around 30,000 tonnes in the current fiscal.

Tata Bluescope would provide zinc aluminium coated steel sheets, colour coated steel sheets and other customised construction solutions.